Libbey sustains 5-cent-a-share loss

4/29/2011

Toledo’s Libbey Inc. Thursday reported a first-quarter loss of $1 million, or 5 cents a share, down significantly from a profit of $55.4 million, or $2.76 a share, for the same period a year ago.

The glass tableware maker said its first-quarter sales were $181 million, up 4 percent from $173.9 million a year ago. The increase stemmed from a 50 percent jump in sales in its China region and a 5 percent increase in sales in the United States and Canada.

Despite a first-quarter loss, Libbey Chairman and Chief Executive Officer John Meier said he was “pleased with the solid sales and gross profit margin improvements we saw in our glass operations segment … especially in light of the weather-related impact in the U.S.”